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SECURE Act
Legislation that expands opportunities for Americans to increase their retirement savings and improves the portability of lifetime income options from one plan to another.
While much of the government is working from home, the Labor Department has dropped off its proposal for a Request for Information on Pooled Employer Plans at the Office of Management and Budget (OMB).
A May 1 update by the White House’s Office of Information and Regulatory Affairs, which is...
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On March 31, the American Retirement Association (ARA) provided an expert discussion of the key elements in the Coronavirus Aid, Relief and Economic Security (CARES) Act in a special webcast.
The ARA’s Retirement Education Counsel Robert Richter, Director of Technical Education Bob Kaplan and...
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The IRS has issued the 2020 cumulative list of changes in plan qualification requirements for pre-approved defined benefit plans. The changes are contained in Notice 2020-14.
The 2020 Cumulative List sets forth specific matters the IRS has identified for review in determining whether a DB plan...
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Two laws enacted in December—the Miners Act and the SECURE Act—will have wide-ranging effects on retirement plans. A recent American Society of Enrolled Actuaries (ASEA) webcast provided a closer look.
Both measures really are part of the Further Consolidated Appropriations Act, 2020. In “DB...
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Three key provisions of the SECURE Act could help chip away at the nation’s retirement deficit, particularly for younger workers and those working for small employers, according to a new analysis by EBRI.
Using its Retirement Security Projection Model, which reflects the real-world behavior of...
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The American Retirement Association has outlined a number of high priority clarifications needed following passage of the SECURE Act.
In a letter dated Feb. 12, the ARA submitted to Carol Weiser, Benefits Tax Counsel at the U.S. Department of the Treasury, a list of “certain issues related to...
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Following up on a recent meeting with the Department of Labor, the American Retirement Association has outlined a number of items requiring additional guidance under the SECURE Act.
In the Feb. 12 letter, ARA recommended that the items listed below be the subject of DOL guidance, in the...
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With the SECURE Act recently enacted and several high-profile issues coming to the fore, 2020 has the potential to be a landmark year, according to a new white paper by MFS.
In “Retirement Outlook 2020,” MFS Senior Retirement Strategist Jonathan Barry and DC Strategist Jessica Sclafani warn that...
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Brian Graff, CEO of the American Retirement Association, recently chatted with Money Life with Chuck Jaffe to discuss the various benefits of the SECURE Act.
Graff, who’s interviewed by Jaffe for the nearly 20-minute segment, reviews how the SECURE Act will help small businesses offer retirement...
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There’s much good for retirement plans and those who work with them in the SECURE Act, but there are a couple of nuggets of “coal” in there as well.
One such provision that retirement plan advisors, administrators and sponsors should be mindful of is a significant increase in the penalties for...
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Surveys of small business owners have consistently shown cost to be a significant impediment to the adoption of a retirement plan for employees. Well, the recently enacted SECURE Act has a provision that could really make a difference.
Congress has previously tried to address this concern by...
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The House of Representatives on Dec. 17 approved the “minibus” government funding bill that contains the bipartisan Setting Every Community Up for Retirement Enhancement (SECURE) Act, moving the bill one step closer to enactment. The bill passed by a 297-120 margin.
Contained in the Further...
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While the SECURE Act is garnering most of the attention, it’s not the only retirement-related legislation included in the spending bill now headed to the Senate.
Distributions for Qualified Disasters
In addition to the SECURE Act, Congress added special disaster-related rules for the use of...
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Despite bipartisan support from key lawmakers and others, the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 (H.R. 1994) remains in limbo.
H.R. 1994 was approved by the House in May by a vote of 417-3. The bill then stalled in the Senate, at which point many observers...
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